My prediction: it will climb because people are going to want to buy scared that it will go higher, give it 5 months once the holidays come everyone will sell making it plummet.

That always happens with Bitcoin and a lot of crypto-currencies. They go through these boom and bust periods like crazy.

No citizen has a right to be an amateur in the matter of physical training...what a disgrace it is for a man to grow old without ever seeing the beauty and strength of which his body is capable. - Socrates

I don't know enough about bitcoin to say if it's a scam or not, but it sure seems like a big deal made over nothing. All currency has only the value people ascribe to it. Gold loses its value once everyone around you is scrabbling in the dirt for a crust of bread. Granted it can be ok until then, but so can a lot of things. Inflation and societal collapse reveals how fragile the vast majority of monetary systems are, including those which supposedly have "intrinsic" value.

I don't know enough about bitcoin to say if it's a scam or not, but it sure seems like a big deal made over nothing. All currency has only the value people ascribe to it. Gold loses its value once everyone around you is scrabbling in the dirt for a crust of bread. Granted it can be ok until then, but so can a lot of things. Inflation and societal collapse reveals how fragile the vast majority of monetary systems are, including those which supposedly have "intrinsic" value.

Bullets, food, water and guns never lose value in times of crisis.

Well scam may be overstating it. I mean the people who made it likely didn't mean it to be a scam, but the only thing special about it is that everybody knows what it is. The block chains are neat and all as a technology but like, the valueing of it is being done by a few groups for specific reasons.

1) People who had bitcoins early because they thought the technology is neat. All kinds of crazy free money to sell off your bitcoins! Some of them may also fall in category 2. A few people own a TON of bitcoin. They are going to jack up the prices then when they think it's the top they will sell off. Hell that is probably what causes the big bitcoin crashes. A big investor cashing out.

2) Crazy libertarians who love the idea of a money not controlled by governments and therefore immune to government manipulation. (Though considering you can bitcoin mine, EVERYONE would be manipulating the currency.) They mostly don't get anything out of this and are just dumb assholes.

3) Scammers. Bitcoin transactions are nontransferable and largely unregulated. If you buy something with cash, there is generally stuff protecting you. Bitcoin? Nothing really. Someone gets in your bitcoin account it's all gone. There is no bitcoin insurance. Not to mention the brokers can screw you over at will too. Look at the recent collapse of reddit cancer Dogecoin. Dude just said "Woops, currency over. Also I was secretly stealing your shit for months!"

The dogecoin thing was another reason why I wanted to start this, dude just said "I'm in debt, I need to end this, oops!" and like that it was over.

A lot of everyday people are suddenly looking into bitcoin because their local news suddenly reported on it, and having it go around with word of mouth. I imagine like you said with point #1 pretty soon because of the interest someone is going to pull out within the next few weeks and have it crash again.

"Dude, 5 moves, I'm sitting on your arm until it's snapping. But to each their own."

That's all one needs to know.
kek @ gold especially! What are you going to do with it in a real crisis? Nobody will buy it from you because it has no practical use and when people don't have money, nobody will buy your gold either way. Paying directly with it is actually illegal here and that's just what can easily happen to bitcoin. They outlaw it, with the reasoning that taxes aren't paid, and that's it.
Would somebody take it as currency regardless? Sure. Would you be able to buy food or pay your rent with it in times of need? No. Completely useless.

That's all one needs to know.
kek @ gold especially! What are you going to do with it in a real crisis? Nobody will buy it from you because it has no practical use and when people don't have money, nobody will buy your gold either way. Paying directly with it is actually illegal here and that's just what can easily happen to bitcoin. They outlaw it, with the reasoning that taxes aren't paid, and that's it.
Would somebody take it as currency regardless? Sure. Would you be able to buy food or pay your rent with it in times of need? No. Completely useless.

Shit like this is why I will never call myself a libertarian. In principle I agree with them, but their solutions to problems are fucking retarded.

Goldsmiths love libertarians though, they are total suckers.

No citizen has a right to be an amateur in the matter of physical training...what a disgrace it is for a man to grow old without ever seeing the beauty and strength of which his body is capable. - Socrates